About Truck Refrigeration Unit
Truck Refrigeration Units are equipment in vehicles which allow carrier or trailer units of vehicles to remain at a particular temperature. This is to prevent the goods in the vehicle to be transported from getting deteriorated such as medicines, vegetables, flowers, chemicals, etc. There are two main types of truck refrigeration units which are split and roof mounted. The ideal refrigeration unit for a vehicle depends upon the vehicle category that is heavy duty, medium duty or light duty and the vehicles length, as well as the end use of the vehicle. The market of Truck Refrigeration recently witnessed higher investments for pharmaceuticals end use, as most of Covid vaccines required cold store facilities and thus truck refrigeration units played a vital role in the vaccine transportation. Geographically, Asia Pacific is expected to emerge as the biggest market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Daikin Industries Limited (Japan), Thermo King Corporation (United States), Denso Corporation (Japan), Carrier Corporation (United States), Webasto (Germany), Mobile Climate Control Group Holding AB (Sweden), Klinge Corporation (United States), Subros Limited (India), Mitsubishi Heavy Industries, Ltd. (Japan) and FRIGOBLOCK Grosskopf GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Singamas Container Holdings Limited (China), Grayson Automotive Services Limited (United Kingdom), Songz Automobile Air Conditioning Co., Ltd. (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Truck Refrigeration Unit market by Type (Roof Mount and Split) and Region.
On the basis of geography, the market of Truck Refrigeration Unit has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. Food and Beverages will boost the Truck Refrigeration Unit market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Heavy Duty Vehicle will boost the Truck Refrigeration Unit market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Trailer Size , the sub-segment i.e. 20ft will boost the Truck Refrigeration Unit market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Currently, Pharmaceutical Industry is Accelerating the Demand as Many of Covid Vaccines require Cold Storage Facilities
Market Growth Drivers:
Growth of Logistics and Transportation Business and Rise in Demand in End Use Industries
Challenges:
Providing Affordable and Timely Maintenance Services in Developing Countries
Restraints:
High Cost of Setup and Maintenance
Opportunities:
Asia Pacific Market is expected to Expand Further with Increasing Pharmaceutical Production
Market Leaders and their expansionary development strategies
In 2020, Hultsteins, a UK based Electric and Hydraulic Refrigeration Unit Manufacturer has announced acquisition of Cold Connect, which works on similar principles of providing sustainable diesel-free refrigeration solutions. The acquisition will strengthen Hultsteins standing in the market, whereas both the combines also look to combine their technical expertise to innovate new products and solutions.
In 2020, Daikin Transport Refrigeration, a subsidiary of Japanese giant in air conditioning solutions Daikin Industries Limited has recently announced launch of its popular Range of Van and Truck Refrigeration Solutions called Zanotti in Certain Regions of Europe which includes countries such as France, Germany, Netherlands and Belgium. The aim of this launch, is to further expand Daikin Transport’s market and improve revenues.
Key Target Audience
Truck Refrigeration Units Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.